September 29th, 2016

New options for HS2 affected homeowners

New options for HS2 affected homeowners New options for HS2 affected homeowners
Updated: 5:04 pm, May 07, 2015

HOMEOWNERS close to the proposed HS2 rail line are being offered new compensation options.

The Government is offering to buy the most affected properties – generally within 60 metres of the line – at their current value, plus 10 per cent.

It will also cover all ‘reasonable’ moving expenses including stamp duty and legal charges.

A ‘rent-back’ option is available for those who want to sell their homes at their unblighted value, but continue living where they are.

It is estimated 510 properties between London and Birmingham fall within the ‘surface safeguarded area’, around 300 of which will need to be knocked down.

Wednesday’s announcement by the Department for Transport also included proposals for those living further from the route, which will now be subject to a public consultation.

If approved later this year, those owning properties between 60 and 120m away could apply to sell their home at current values or, for those not wishing to move, take a cash payment worth 10 per cent of its price, up to a maximum of £100,000.

Payments would also be available to homeowners living between 120 and 300m from the line. Depending on the precise locations these would range from £7,500 to £22,500.

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